Sunday, February 20, 2011

Invest Indonesia - Banking Industry - Bank Tabungan Negara

Stock Code: BBTN.JK Listing Date : 17-12-2009
Share Price : Rp1,340 (18-2-2011)

Pemilik # Lembar Saham %
Pemerintah 6.354.000.000 = 72.92%
Publik 2.360.057.000 = 27.08%
- Domestik 842.313.533 = 35.69%
- Asing 1.517.743.467 = 64.31%


Financial Result for FY2010:-
1. EPS Rp93 ( net profit Rp784,833 million)
2. Rank number 10th bank in Indonesia.
3. Expect 2011 EPS of Rp126

Target Price :

Level 1 = Rp1600
Level 2 = Rp1850
Level 3 = Rp 2250

Based on assumption earning growth rate of 25%-30% for year 2011 and PER range between 14x-18x.

START TO ACCUMULATE AT THIS LEVEL AND POTENTIALLY TO MAKE 25% FOR 3-6 MONTHS PERIOD.






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